§5072. Definitions

As used in this chapter, unless the context otherwise indicates, the following terms
have the following meanings. [1999, c. 292, §2 (NEW).]

1.Applicant.
"Applicant" means:

A. In the case of an individual long-term care insurance policy, the person who seeks
to contract for benefits; or [1999, c. 292, §2 (NEW).]

B. In the case of a group long-term care insurance policy, the proposed certificate
holder. [1999, c. 292, §2 (NEW).]

[
1999, c. 292, §2 (NEW)
.]

2.Certificate.
"Certificate" means any certificate issued under a group long-term care insurance
policy.

[
1999, c. 292, §2 (NEW)
.]

3.Group long-term care insurance policy.
"Group long-term care insurance policy" means a long-term care insurance policy
that is delivered or issued for delivery in this State to an employer group, private
purchasing alliance, labor union group, association group, trustee group, credit union
group or other group as described in chapter 35.

[
1999, c. 292, §2 (NEW)
.]

4.Long-term care insurance policy.
"Long-term care insurance policy" means any individual or group insurance policy
or rider offered by a life or health insurer, fraternal benefit society, nonprofit
hospital and medical service organization, nonprofit health care service organization,
prepaid health plan organization, health maintenance organization or other similar
organization authorized to issue life or health insurance that is advertised, marketed,
offered or designed to provide coverage for not less than 12 consecutive months for
each covered person on an expense-incurred basis, indemnity basis, prepaid or other
basis for one or more necessary or medically necessary diagnostic, preventive, therapeutic,
rehabilitative, maintenance or personal care services provided in a setting other
than an acute care unit of a hospital. "Long-term care insurance policy" includes
individual and group annuities and life insurance policies or riders that directly
provide or that supplement coverage for long-term care insurance and a policy or rider
that provides for payment of benefits based upon cognitive impairment or the loss
of functional capacity. "Long-term care insurance policy" does not include:

C. With regard to life insurance, an insurance policy or contract that accelerates
the death benefit specifically for one or more of the qualifying events of terminal
illness, medical conditions requiring extraordinary medical intervention or permanent
institutional confinement and that provides the option of a lump sum payment for those
benefits and does not condition the benefits or the eligibility for those benefits
upon the receipt of long-term care. [1999, c. 292, §2 (NEW).]

[
1999, c. 292, §2 (NEW)
.]

SECTION HISTORY

1999, c. 292, §2 (NEW).

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